HomeMy WebLinkAbout1994-007 CCR1
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Member Celia Scott introduced the following resolution and
moved its adoption:
RESOLUTION NO. 94 -07
RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
WHEREAS, Section 7.01 of the City Charter provides the City
Council with authority over City funds, including the safekeeping and
disbursement of public moneys; and
WHEREAS, Section 7.10 of the City Charter provides that City
funds shall be disbursed by check bearing the actual or facsimile
signature of the city manager and the city treasurer.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Brooklyn Center, Minnesota, as follows:
1. that Marquette Bank Brookdale is hereby designated as the
depository of the funds of the City of Brooklyn Center.
2. that the following named banks are hereby designated
additional depositories to be used for investment purposes:
First National Bank of Minneapolis
First Trust Bank of St Paul
Norwest Bank Minneapolis
American National Bank of St. Paul
Piper Capital Management
Firststar Bank of Brooklyn Center
Investors Savings Bank of Brooklyn Center
Metropolitan Federal Bank FSB of Brooklyn Center
Twin City Federal Savings Loan Association
The city treasurer is authorized to deposit City funds
guaranteed by the Federal Deposit Insurance Corporation or the
Federal Savings and Loan Insurance Corporation and such
additional funds not to exceed the amount of 90% of collateral
pledged by the depository to the City, and approved by the City.
3. that First National Bank of Omaha is hereby designated as
the clearinghouse depository for credit card sales of the Liquor
Stores.
4. that the city manager, city treasurer, and deputy city
treasurer are authorized by the City Council to act for the City
in any of its business with the depositories. All checks drawn
upon an account of the City shall bear the actual or facsimile
signature of the city manager and the city treasurer.
5. that the city manager is Gerald G. Splinter, the city
treasurer is Charles R. Hansen, and the deputy city treasurer is
Timothy R. Johnson.
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RESOLUTION NO. 94 -07
January 10, 1994
Date Mayor
ATTEST: �C,i AZt
Deputy Cler
The motion for the adoption of the foregoing resolution was duly
seconded by Member Barb Kalligher and upon vote being taken
thereon, the following voted in favor thereof:
Todd Paulson, Celia Scott, Dave Rosene, Barb Kalligher, and Kristen Mann;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.